Trading range 1.3793-1.3838

16.07.2021

Daily chart: the pair remains under pressure, trading downward towards support at 1.3746 (lower Bollinger band). ADX is in the active zone, but moved to a correction, so the volatility may decrease a little bit.

Н4: the local potential of the ADX is almost at the zero level, therefore, the price drift below the support 1.3793 is unlikely. This will also be facilitated by the psychological significance of the round level 1.3800. We can expect a rollback of quotes to the 1.3828-1.3838 zone.

Н1: on the hourly chart the picture is identical: weak ADX and testing of the lower Bollinger band, which is also in the 1.3793-1.3800 zone here. Therefore, the flat forecast can be considered as confirmed.

Conclusions: flat in the range 1.3793-1.3838.
Trading decisions: short-term deals in the corridor 1.3793-1.3838.